Article 3 – Fiscal Controls

(30 ILCS 10/Art. 3 heading)

ARTICLE 3.
FISCAL CONTROLS.

 

(30 ILCS 10/3001) (from Ch. 15, par. 3001)

Sec. 3001.
Internal controls required.
All State agencies
shall
establish and maintain a system, or systems, of internal
fiscal and administrative controls, which shall provide
assurance that:

• (1) resources are utilized efficiently, effectively, and in compliance with applicable law;
• (2) obligations and costs are in compliance with applicable law;
• (3) funds, property, and other assets and resources are safeguarded against waste, loss, unauthorized use, and misappropriation;
• (4) revenues, expenditures, and transfers of assets, resources, or funds applicable to operations are properly recorded and accounted for to permit the preparation of accounts and reliable financial and statistical reports and to maintain accountability over the State’s resources; and
• (5) funds held outside the State Treasury are managed, used, and obtained in strict accordance with the terms of their enabling authorities and that no unauthorized funds exist.

(Source: P.A. 86-936.)

 

(30 ILCS 10/3002) (from Ch. 15, par. 3002)

Sec. 3002.

Certification guidelines for chief
executive officers.

(a) By the next March 1 after the date this Act takes effect, the
Comptroller, in consultation with the Director of
Central Management Services, shall establish
guidelines for:

• (1) the evaluation by State agencies of their systems of internal fiscal and administrative controls to determine whether the systems comply with the requirements of Section 3001; and
• (2) the certification by chief executive officers required by Section 3003.

(b) The guidelines must be approved by the Legislative Audit
Commission and may be modified, as needed, with the
Commission’s approval.

(Source: P.A. 86-936.)

 

(30 ILCS 10/3003) (from Ch. 15, par. 3003)

Sec. 3003.

Certification by chief executive
officers.

(a) By May 1 of each year, each chief executive officer
of all State agencies shall, on the basis of an evaluation
conducted in accordance with guidelines established under
Section 3002, prepare and transmit to the Auditor General a
certification that:

• (1) the systems of internal fiscal and administrative controls of the State agency fully comply with the requirements of this Act; or
• (2) the systems of internal fiscal and administrative controls of the State agency do not fully comply with the requirements of this Act.

(b) If the systems do not fully
comply with the requirements of this Act, the certification shall include
a report describing any material weaknesses in the
systems of internal fiscal and administrative controls and the
plans and schedule for correcting the weaknesses, or a statement of the reasons
why the weaknesses cannot be corrected.

(Source: P.A. 86-936.)

 

(30 ILCS 10/3004) (from Ch. 15, par. 3004)

Sec. 3004.

The Supreme Court will establish by its rulemaking
authority or by administrative order procedures to annually assess the
adequacy of internal controls for State-funded activities of the judicial
branch, using procedures consistent with the intent of this Article.

(Source: P.A. 86-936.)